Crude Oil Price Today: Is the Israel-Iran war ending, crude oil fell by more than 6%, know the reason for the fall?

Read Desk. On the morning of March 25, a huge fall of up to 6% was recorded in the prices of crude oil. The main reason for this decline was many such reports, which said that America is putting diplomatic pressure on Iran so that this conflict can be ended. Besides, contradictory reports regarding possible deployment of troops in the region also had an impact on prices.

West Texas Intermediate (WTI), a key benchmark of US crude, was trading below $88 a barrel. After a slight rise in prices on Monday, it fell by more than 5%.

During early trading in Asian markets on Thursday, June contracts of Brent crude fell more than 6%. Prices slipped below $95 per barrel.

Earlier, Israel’s ‘Channel 12’ had reported that Washington was demanding a month-long ceasefire to carry forward the talks.

Another report in The New York Times, citing two informed officials, said that America has sent a 15-point plan to Iran to end the fighting.

The NYT report also boosted US futures during early evening trading on Wall Street; This happened after a regular trading session in which the benchmark indices closed at negative levels.

In contrast, a separate report by Bloomberg, citing informed sources, said that the Trump administration has ordered the 82nd Airborne Division to deploy about 2,000 troops in the region. Some media organizations have put the number of soldiers at 3,000.

Despite recent volatility, oil prices are headed for big gains on a monthly basis as the conflict now enters its fourth week. Israel started this military operation in coordination with America at the end of February. There has been no sign of retreat.

Defense Minister Israel Katz said on Tuesday that the operation would continue “with full intensity”. In its report on the cease-fire proposal, Channel 12 noted that Israel views the plan with suspicion and believes Iran has little chance of accepting it.

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